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2. Which of the following is not a fund category used by state and local governments?
A. Fiduciary funds.
B. Plant and Equipment funds.
C. Governmental funds.
D. Proprietary funds.
(Answer: B; Easy; LO2)
3. Which of the following is an official fund category used by state and local governments?
A. Current funds.
B. Expendable funds.
C. Governmental funds.
D. General capital asset funds.
(Answer: C; Easy; LO2)
5. The operations of a city bus line receiving all its funding from user charges would be
accounted for in
A. A General Fund.
B. An Enterprise Fund.
C. An Internal Service Fund.
D. A Special Revenue Fund.
(Answer B; Easy; LO2)
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7. Activities of a central motor pool that provides and services vehicles for the use of municipal
employees on official business should be accounted for in
A. General Fund.
B. Enterprise Fund.
C. Internal Service Fund.
D. Special Revenue Fund.
(Answer: C; Easy; LO2)
10. Which of the following is the basic proprietary fund accounting equation?
A. Assets – Liabilities = Net Assets.
B. Financial Assets – Related Liabilities = Fund Balance.
C. Financial Assets + Deferred Outflows – Related Liabilities – Deferred Inflows = Fund
Balance.
D. Assets + Deferred Outflows – Liabilities – Deferred Inflows = Net Position.
(Answer: D; Difficult; LO3)
11. Which of the following uses the flow of economic resources measurement focus?
A. General Fund.
B. Debt Service Fund.
C. Special Revenue Fund.
D. Internal Service Fund.
(Answer: D; Easy; LO3)
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12. Proprietary funds recognize
A. Expenditures when the fund incurs a liability for goods or services.
B. Expenditures when the fund uses goods or services.
C. Expenses when the fund incurs a liability for goods or services.
D. Expenses when the fund uses goods or services.
(Answer: D; Easy; LO3)
13. Which of the following is the basic governmental fund accounting equation?
A. Assets – Liabilities = Net Assets.
B. Financial Assets – Related Liabilities = Fund Balance.
C. Financial Assets + Deferred Outflows – Related Liabilities – Deferred Inflows = Fund
Balance.
D. Assets + Deferred Inflows – Liabilities – Deferred Outflows = Net Position
(Answer: C; Difficult; LO3)
14. Which of the following uses the flow of current financial resources measurement focus?
A. Agency Fund.
B. Enterprise Fund.
C. Special Revenue Fund.
D. Internal Service Fund.
(Answer: C; Moderate; LO3)
15. In which of the following financial statements should a government not report depreciation
expense?
A. Fiduciary fund financial statements.
B. Governmental fund financial statements.
C. Proprietary fund financial statements.
D. Government-wide financial statements.
(Answer: B; Moderate; LO3)
16. The availability criterion for recognizing revenues applies to all of the following funds except
A. Capital Projects Funds.
B. Debt Service Funds.
C. Internal Service Funds.
D. Special Revenue Funds.
(Answer: C; Moderate; LO3)
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Another random document with
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"The idea of mother SPOILING anybody!" said Dr. John, with incredulous
voice and laughing eyes.
Then she went about the pretty task of straightening the books and papers,
and restoring the sitting-room to its yesterday's freshness.
"I am glad mothers don't spoil their children," her mother said, satisfaction in
her voice, as she watched Louise moving among the disordered elements,
bringing order out of confusion.
"I didn't spoil her, did I, Lewis? What a lovely home you have had here all
these years! I am glad you have demonstrated the folly of the saying that no
house is large enough for two families. How could anything be better than the
arrangement which you have here? Mrs. Morgan was telling me this morning
that when you talked for a time of going to housekeeping it almost made her
sick. I'm very glad you didn't. Little John gives Louise care enough without the
responsibilities of housekeeping; though your mother says, Lewis, that she
takes a great deal of care from her. I think she has rather an exaggerated
opinion of you, Louise; perhaps she is trying to spoil you."
"She is a remarkable little woman, you will have to admit," Lewis said, in a
half-laughing tone, but regarding his wife with eyes in which she saw
earnestness and tender feeling. "I am glad you brought her up so well,
mother; there are not many who would have succeeded with the problem of
two families in one house as she has done."
"Yes," said the mother emphatically; "and then there is another thing to be
taken into consideration. She had unusual surroundings. Anybody can see
that your mother is an unusual woman. Probably Louise's experience has
been exceptional. I really believe at heart that there are not many houses
large enough for two families. I trembled for Louise. I used to watch every
letter critically for signs of failure. You see I did not know your father and
mother. I did not feel so anxious about the father; they always get along well
with daughters-in-law if the mothers do. But I worried a good deal,
unnecessarily I can see now. Still it is, after all, an exceptional case. Don't you
think so?"
Lewis turned slowly round from the mantel against which he had been leaning
and regarded his wife with a curious look—eyes that were brimming with a
mischievous light, and yet had behind the light a suggestion even of tears. His
voice, when he spoke, had also that curious hint of pent-up feeling.
"Yes, it is an exceptional case. Very few daughters-in-law have such
experiences. I do consider my mother an unusual woman, and my wife an
unusual wife. And I tell you in all honesty, mother, that we of the Morgan family
thank God every day of our lives for the vine from your branch that was
grafted into ours."
THE END.
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